Business
Results of the Placing and Subscription
Results of the Placing and Subscription.
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"\n \nRNS Number : 3571U Faron Pharmaceuticals Oy 28 March 2019 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nFaron Pharmaceuticals Oy\n(\"Faron\" or the \"Company\")\n \nResults of the Placing and Subscription\nand Issue of Equity\nPDMR Shareholding\n \nSuccessful fundraising of €3.12 million (£2.67 million) through the Placing and Subscription\n \nTURKU - FINLAND, 28 March 2019 - Faron Pharmaceuticals Oy (AIM: FARN), the clinical stage biopharmaceutical company, is pleased to announce that, following the announcements on 26 March 2019, the proposed Placing and Subscription has been subscribed for in full, in satisfaction of the Placee Condition. \n \nPursuant to the Placing and Subscription, the Company is raising approximately €3.12 million before expenses by way of the Placing of 864,164 Placing Shares at the Issue Price of 60.0 pence per share and the Subscription of 3,584,461 Subscription Shares at an equivalent Euro Issue Price of 70.2 cents per share (\"Euro Issue Price\"). The Placing and Subscription have been supported by the participation of existing and new institutional shareholders. The Board of Directors of Faron has resolved on and approved the issuance of the Placing Shares and the Subscription Shares pursuant to the existing authorisation granted by shareholders at the Company's Annual General Meeting held on 31 May 2018.\n \nThe Placing Shares and the Subscription Shares are expected to be registered with the Finnish Trade Register shortly. The Placing Shares and Subscription Shares will, when registered, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of registration of the Placing Shares and Subscription Shares with the Finnish Trade Register.\n \nApplication has been made to the London Stock Exchange for admission to AIM ...